USD 564 Million in Loans to Small-scale Farmers

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Jul 2015
Global, July, 20 2015 - Members of the Council on Smallholder Agricultural Finance (CSAF) announced on 16 July 2015 that they provided USD 564 million in loans to 658 small and medium-sized businesses in 64 countries during 2014, an increase of 56 percent from 2013.

Lending growth was driven by continued geographic expansion, particularly in Africa and Latin America, diversification into new crops, and a wider range of financial products and services. CSAF members target agricultural businesses in the rural ‘missing middle’ — too large for microfinance but considered too small and too risky by commercial banks — that typically require loans ranging from  USD 50,000 to USD 2 million.

Businesses accessing finance from CSAF members linked 1.2 million households to formal markets by purchasing from them approximately USD 3 billion worth of agricultural products, from coffee, cocoa and cashews to sorghum, soy and sesame. Many of these enterprises also provided individual farmers with reliable and affordable access to credit, equipment and training to facilitate adoption of sustainable production practices in the face of climate change.

Formally launched in April 2014 by seven social lenders — Alterfin, Oikocredit, Rabobank, responsAbility Investments AG, Root Capital, the Shared Interest Society and Triodos Investment Management — CSAF provides a global forum for leading impact-oriented agricultural lenders to exchange learning, identify best practices and develop industry standards. In 2014, Incofin Investment Management joined CSAF as an affiliate.

 



Source : Upsides
 

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